https://mothership.sg/2022/06/borobudur-snacks-shop-sold/

4-decade-old Borobudur Snacks Shop in Bedok North sold for S$4 million

Still around but changing hands.

Belmont Lay |  June 30, 2022, 03:20 AM

 

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Shops in Singapore specialising in making old-school food are closing down at an alarming frequency.

So, not closing down but changing hands might just be the next best alternative.

Changing hands

Borobudur Snacks Shop, an old-school shop in Bedok North, is up for sale.

The shop specialises in Indonesian-style kuehs, ang ku kueh, and kueh lapis.

Owner, Simon Tay, 74 via Shin Min Daily News

via Matthew Lee

Owner giving up business

Richard Goh, an Indonesian-born Singaporean, opened Borobudur Snacks Shop in the 1980s, 8 Days reported.

According to Shin Min Daily News, co-owner Simon Tay, now 74, took over the shop.

Tay became a business partner in 1983.

In 1996, Goh passed away, leaving Tay to oversee operations.

Now, in 2022, after three years of searching for someone else to take over, Tay is moving on.

He has finally found a buyer: A couple introduced to Tay via a middleman, according to the Chinese press.

Tay said: "We haven't signed the contract. We're still discussing the details, but they've been learning to make kueh since April. They a year to learn before they're ready."

And even if offered a higher price, Tay said he is going through with the sale.

His asking price was S$4 million.

Not expensive

However, he told the Chinese press S$4 million is for his entire business, which includes the shop, the factory and all its equipment.

He told the Chinese newspaper: "At our peak, we made close to 1,000 cakes daily. At least 10 popular hotels order our cakes and we deliver to other retail shops in Singapore."

The business then opted to supply buffet operators due to the increase in the number of food courts and competition in the wholesale market, Tay said.

A factory was set up at Mandai Link in 2004 to cope with demand.

Tay admitted that the sale makes him sad, despite the large amount he will receive, but he cannot find a successor to take over if he does not sell.

Zheng and his wife have a daughter, but she is married and resides in Canada.

"I've been doing this for so many years, this shop is like my child," Tay said.

"I feel it's a pity, but I don't have a choice. My wife and daughter support my decision to sell. After I retire I'm going on a holiday with my wife, perhaps travel to Canada," he added.

Borobudur Snacks Shop

Block 537 Bedok North Street 3 Singapore 460537

6442-7637

Opens daily 7am-9pm

Top photos via Matthew Lee & James Tan